Quantivate Blog

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Vendor Management

Evaluating GRC Solutions

by Dan Banning

January 26, 2016 10:01 am

Finding the right provider of GRC solutions can be difficult. Mainly because GRC Software solutions are sometimes complex, force you to change the way you do business, and can be difficult to implement.

To achieve the maximum benefit from any solution a list of organizational requirements should be drafted prior to selecting a vendor. Because features and functionality differ between vendors it is important to ask yourself a number of questions when going through your evaluation process. By taking this approach an organization can determine what is important to the organization’s needs and culture. (more…)

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New Workflow Engine

by Dan Banning

May 26, 2015 02:05 pm

Dynamic Workflow Engine

The Quantivate GRC platform now includes a native workflow engine that helps manage and support GRC processes. The workflow engine enables you to easily build workflows that control the routing and gathering of information and the notification of completion.

Deliver scalable and relevant workflows to your enterprise

From basic tasks to complex solutions, workflows in Quantivate can drive user action, simplify user activities, and ensure consistency by connecting your users with the relevant tasks and information they need most. Workflows can be set up to manage single users or departmental processes, or even built to span all your GRC initiatives and modules.

Gather information from both internal and external sources

GRC processes often require information from both internal and external sources. The Quantivate workflow engine allows you to build workflows, pages, and questionnaires to gather information from external sources such as vendors and other third parties. Combined with the Quantivate platform’s temporary user accounts feature, you can now create powerful self-service portals so your vendors, suppliers, and other third parties can manage their own information and documentation.

Sequential, Parallel and Multi-tier Workflows

The Quantivate dynamic workflow engine allows you to build workflows that involve sequential, parallel or even multi-tier processes or a mix of them. This gives you complete control of the steps and processes for advanced workflow management and development.

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Vendor Management: Change the performance scale

by Mark Callender

March 19, 2015 11:03 am

Vendor Management: Change the performance scale.

How are you managing the performance of your third parties? Are they meeting your expectations? Are they providing good service? Do they have a service level agreement and who is monitoring that SLA?

A lot of organizations use a keep vs. fire or A vs. F system of evaluating their third parties. They will go through and rate their vendors; grade them A – F, or score them 1 – 5 and come out of that saying were either going to keep the vendor or terminate the contract. (more…)

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Senior Level Vendor Managers

by Dan Banning

March 06, 2015 11:03 am

Senior Level Vendor Managers

Given the importance of our third-party relationships to the success of an organization, the role of the vendor manager has evolved so that they are no longer a legal clerk, a contract negotiator, or a paperwork administrator.

In today’s business world, vendor managers are often a part of the senior level management team where strategic thinking and business development are vital necessary skills. (more…)

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New Vendor Management 101 Video Series

by Dan Banning

May 07, 2014 02:05 pm

Quantivate has just released the first video in our Vendor Management 101 Video Series. In this video series, Quantivate’s CEO Andy Vanderhoff, will be covering a number of Vendor Management specific issues.

 


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OCC Sounds the Alarm on Third Party Risk

by Andy Vanderhoff

October 31, 2013 03:10 pm

Yesterday, the Office of the Comptroller of the Currency issued OCC Bulletin 2013-29 on Third-Party Relationships. Found here: http://www.occ.gov/news-issuances/bulletins/2013/bulletin-2013-29.html

The document rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, both of which had served as the basis for supplier management practices and inspections for many years.

OCC Bulletin Highlights Include: (more…)

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FIS Breach Shows Vendor Management Still a Problem

by Andy Vanderhoff

September 26, 2013 12:09 pm

Randy Lindberg of Rivial Security (Quantivate’s IT GRC partner) recently pointed out how the breach at FIS shows that vendor management is still important. Read more here.

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Things You Should Include in Due Diligence Review

by Andy Vanderhoff

July 25, 2013 02:07 pm

Due diligence requires investigation into a vendor’s ability to meet the requirements of the proposed service and an inquiry into the vendor’s financial ability to deliver its promise. When performing due diligence process for vendors, you should consider the following areas: (more…)

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Selecting a Vendor: Tips

by Andy Vanderhoff

July 08, 2013 12:07 pm

It goes without saying that your business is successful thanks to the multitude of vendors you work with every day: your Internet Service Provider, website developer, phone guy, copy guy, etc. The list goes on and on. It also goes without saying that eventually one of these services will go wrong, causing you to spend valuable time calling and managing these vendors when you should be managing your business. Here are some helpful tips in selecting a vendor: (more…)

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6 Tips on Managing Your Vendors’ Risk

by Andy Vanderhoff

May 20, 2013 02:05 pm

Vendor risk-assessment needs to be an ongoing initiative at your organization, not just a one-time project. In other words, it should be part of your culture rather than simply just something like add-on program. How do you manage your vendors’ risk? Here are some tips you can implement to ensure proper risk management:

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